Cedar Fair Entertains 22.7 Million Guests in 2008; Reports Solid Fourth Quarter Attendance Results

[Cory Butcher]

Source: Cedar Fair Entertainment company.

http://biz.yahoo.com/prnews/090113/cltu055.html?.v=101

SANDUSKY, Ohio, Jan. 13 /PRNewswire-FirstCall/ -- Cedar Fair (NYSE: FUN - News), a leader in regional amusement parks, water parks and active entertainment, today announced that attendance in 2008 at its eighteen locations totaled 22.7 million guests, up 3% from the Company's total attendance of 22.1 million in 2007.

"We experienced increases in attendance at many of our parks during the fourth quarter, as strong fall promotions and a favorable calendar increased attendance 8%, or 205,000 visits, from the same quarter a year ago," said Dick Kinzel, chairman, president and chief executive officer. "For the full year, on a regional basis, our northern region and southern region parks experienced a 3% and 8% increase in attendance, respectively. The northern region, which includes the standout performer for 2008, Canada's Wonderland near Toronto, and our flagship park, Cedar Point in Sandusky, Ohio, entertained 12.8 million guests compared with 12.4 million guests in 2007. Our southern region parks entertained 4.4 million guests in 2008 compared with 4.1 million guests a year ago. Our western region parks hosted 5.5 million guests in 2008 versus 5.6 million guests in 2007, a 2% decrease. Meanwhile, preliminary results report average in-park guest per capita spending down approximately 1% between years.

"Overall, we are pleased to have achieved increases in year-over-year attendance in such a challenging consumer market," said Kinzel. "Record high gasoline prices throughout most of our operating season, a troubled housing market, rising unemployment rates and the ongoing credit crisis were all challenges our parks had to overcome. We believe families chose to stay closer to home this summer, and we were successful in positioning our parks as an affordable alternative to the weeklong, out-of-town, family vacation."

"It is likely that many of the difficult market conditions we faced in 2008 will be present throughout 2009, and we believe we are well positioned to meet these challenges," continued Kinzel. "We will continue to focus on adding value to the guest experience through new shows, thrill rides, family attractions and special events that everyone can enjoy. I believe we have an excellent overall entertainment package line up at our parks for the 2009 season that will appeal to the budget-conscious consumers. Our parks are a family tradition and we believe they will continue to be for many generations to come."

Kinzel concluded by noting the Company plans to issue a news release and host a conference call with analysts on Thursday, February 12, 2009 to discuss 2008 fourth quarter and full year earnings results for Cedar Fair. The Company's 2008 year-end tax information will also be processed and mailed to unitholders at the beginning of March. The same tax information will be available to unitholders through the Investor Relations section of the Partnership's corporate web site (www.cedarfair.com) beginning Monday, March 2, 2009.

Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The partnership owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. Amusement parks in the company's northern region include two in Ohio: Cedar Point, consistently voted "Best Amusement Park in the World" in Amusement Today polls, and Kings Island; as well as Canada's Wonderland, near Toronto; Dorney Park, PA; Valleyfair, MN; and Michigan's Adventure, MI. In the southern region are Kings Dominion, VA; Carowinds, NC; and Worlds of Fun, MO. Western parks in California include: Knott's Berry Farm; Great America; and Gilroy Gardens, which is managed under contract.

This news release and prior releases are available online at www.cedarfair.com.

Contact: Stacy Frole (419) 627-2227

Maybe those higher gas prices helped?

[CoastersRZ]

But also note that per cap spending was down 1% in 2008 compared to 2007. Have they finally reached the point when they can`t continue to raise prices on food and soft drinks without seeing a drop off in their per cap spending?

[RailRider]

^

That or could also mean if we go to the park we have to cut out the gift shops or we will pack our lunches.

Attendance up in an economy like this is still an impressive feat.

[CoastersRZ]

That is also true. Because of the bad economy, people are not necessarily forgoing actually visiting the park. However, they may be cutting out some of those in park purchases like funnel cakes, like you mentioned, because people are watching their pennies, and not willing to fork over so many nickels to Cedar Fair. It would be one thing if the quality and service of the food items were worth the price, but often times, the price and quality of the food are not compatible.

[The Interpreter]

Not to mention that many, if not most, of the food offerings are incompatible with the diets that many parents would want their families to have. Fried this, fried that and fried the other gets old...and yes, I know there is Subway, but one food option does not a healthy park make.

[74Gibson]

Good point Terp. I try not to eat any of that suff and the same will be true for my daughter...at least while I'm around.

Per capita spending is no small issue and attendance is just one factor in their financial success. I wonder if they had more paying guests or mostly passholders making the most of their entertainment dollar instead of spending elsewhere.

[CedarPointer]

Not to mention that many, if not most, of the food offerings are incompatible with the diets that many parents would want their families to have. Fried this, fried that and fried the other gets old...and yes, I know there is Subway, but one food option does not a healthy park make.

I don't think the food is that limited. Kings Island has a lot more food choices than the parks of certain chains that count their flags. (But a Panda Express would be much appreciated, along with Johnny Rockets)

[The Interpreter]

WHAT? Kings Island HAS a Panda Express. (and that hardly qualifies as healthy food...look at the sodium counts on any of their offerings). And nearly any Six Flags has better food choices than does Kings Island. Where is Kings Island's sit down table service restaurant? As for Johnny Rockets, don't hold your breath. It's now owned by the same people that own/manage Six Flags....Red Zone and Dan Snyder.

[Captain Picard]

Remember the Six Flags ****roach Eating Promotion, that be some good eats.

[Cory Butcher]

Remember the Six Flags ****roach Eating Promotion, that be some good eats.

Hey, they are full of protein!

[corn4ahead]

how bout we get some food like BGE!

i havent been there but i heard its the best in the amusement park industry.

[The Interpreter]

I personally much prefer the food at Disney, Dollywood, Knoebel's Amusement Grove and Santa Cruz Beach Boardwalk to that at BGE. I also like BGA's food a lot, especially their barbecue, which is awesome.

[Captain Picard]

I had some Chinese at Epcot and it was some of the best I have ever had but it cost more than any I have had.

It's been five years and I still remember how much I paid for it.

[jzarley]

Both Disney and Universal have good food, but I think the best food overall is at the Busch Parks. The food they served at Discovery Cove was absolutely the best meal I've ever had in a theme park.

[RailRider]

I personally think the food at DollyWood is some of the best around, also the Funnelcakes are amazing.

Still Opryland had some of the best Fried Chicken I have ever had.

[corn4ahead]

yes dollywoods food was really good and and not all that expensive either which is nice...its seems like the frontier-ish themed amusement parks have great food i.e. dollywood, silver dollar city, etc.

[WooferBearATL]

Both Disney and Universal have good food, but I think the best food overall is at the Busch Parks. The food they served at Discovery Cove was absolutely the best meal I've ever had in a theme park.

The Busch do have the best food over all. I think that it's the only chain that I make certain to have at least one meal in.

Six Flags and CF parks have comparable food. (Not exactly stellar on any realm of the imagination.)

The only Disney parks that I find to have decent food is at Epcot and Animal Kingdom.

Dollywood's food has come soooooo far from what it used to be. It's just about at the level that the old Opryland had.

[The Interpreter]

Not to be mean, but when did you last have Cedar Fair food? I, for one, can not possibly put Cedar Point and Kings Island on the same level foodwise...nor Dorney Park and, say, Worlds of Fun. The Cedar Fair chain has more variability in food than any other chain, in my humble opinion. And before Mr. Dan Snyder arrived, Six Flags food was all over the map, from the wonderful (Six Flags Great Adventure) to the mundane (Six Flags Great America) to the truly awful (Six Flags Over Georgia). Since Snyderization and the Papa John's and Panda Expressing and Johnny Rocketsization of MOST of the parks, the food seems to have leveled out there, to a level slightly above the old Six Flags Great America.

[WooferBearATL]

Not to be mean, but when did you last have Cedar Fair food? I, for one, can not possibly put Cedar Point and Kings Island on the same level foodwise...nor Dorney Park and, say, Worlds of Fun. The Cedar Fair chain has more variability in food than any other chain, in my humble opinion. And before Mr. Dan Snyder arrived, Six Flags food was all over the map, from the wonderful (Six Flags Great Adventure) to the mundane (Six Flags Great America) to the truly awful (Six Flags Over Georgia). Since Snyderization and the Papa John's and Panda Expressing and Johnny Rocketsization of MOST of the parks, the food seems to have leveled out there, to a level slightly above the old Six Flags Great America.

Not been to Cedar Point since I was in college. But at that time the food at both Kings Island and Cedar Point was pretty amazing. I have been to Knotts and I have been to Carrowinds though, recently.

We will agree that Six Flags Over Georgia can not be considered food. Well, other than the BBQ. It's not bad.

[The Interpreter]

The BBQ did not arrive until the Snyder days. And any park's food back when you were in college is hardly a good data point for food service in a park these days. Virtually all food service is done in a totally different way now than it was then. This is true from the McDonald's of the world all the way up to sit down table cloth restaurants at the Disneys and Universals of the world.

[WooferBearATL]

The BBQ did not arrive until the Snyder days. And any park's food back when you were in college is hardly a good data point for food service in a park these days. Virtually all food service is done in a totally different way now than it was then. This is true from the McDonald's of the world all the way up to sit down table cloth restaurants at the Disneys and Universals of the world.

But does not excuse why some Disney parks and all Busch parks can achieve excellence in food service.